Anthropic IPO: Banks Weigh $1.5 Trillion Valuation

IPO Valuation Talks Move Past $1.4 Trillion

Anthropic (ANTHROPIC) moved a step closer to one of the largest public listings on record on Wednesday, as the investment banks advising the company weigh an IPO valuation above $1.5 trillion. The figure, reported by the Financial Times, is up from the roughly $1.4 trillion target that had surfaced on Tuesday, and the revision follows indications of strong investor demand ahead of the offering. An IPO at or above $1.5 trillion would place the company among the most valuable listings ever arranged, though the outcome rests on the final price range and the number of shares offered. No listing date, offering size or final range has been disclosed; the higher valuation stands as an option under review rather than a settled number, and the report does not say when the banks would settle on a final range. The deal takes the shape of a conventional public offering, in which buyers receive equity, rather than a crypto-style ICO in which participants acquire tokens. The capital side is forming in parallel: Google, NVIDIA and Microsoft, named as strategic partners in the reporting, plan to commit a combined $26 billion, roughly the scale of a large late-stage funding round, through a separate private placement priced off the IPO price. Because the placement prices at the IPO level, the partners' allocation carries no discount to the public offering. Terms beyond that price link and the $26 billion total have not been laid out, and the company has not publicly confirmed a timetable. COINOTAG data shows the pre-IPO instrument quoted at $1,395.06, up 8% over the past 24 hours within a range of $1,285.00 to $1,431.94, keeping the quote near the top of its recent span.

CoreWeave's 168% Revenue Jump Sets the Tone

CoreWeave's third-quarter report, published on Tuesday, set the tone for Wednesday's AI trade. The company, which operates rented computing capacity used to train and run AI models, posted quarterly revenue of $3.66 billion, a 168% increase from a year earlier, and lifted its full-year revenue outlook to a range of $13 billion to $13.3 billion. Costs cut into the bottom line: the quarterly net loss widened to $709 million on higher interest expenses, with the loss per share at $1.27. Investors traded the growth line, not the loss. CoreWeave shares rose 10% in premarket trading on Wednesday, after being up 14% earlier in the session, and the buying spread across the AI infrastructure complex. IREN gained 6%, Galaxy Digital 5% and Cipher Digital 7% before the opening bell. Nvidia climbed 4%, recouping part of its recent losses, which had followed claims circulating about chief executive Jensen Huang. Memory and semiconductor funds joined the move, with the Roundhill Memory ETF up 8% and the VanEck Semiconductor ETF ahead by more than 4%. Nasdaq 100 futures rose more than 1.5%, after trading up 2% earlier in the session, and the Anthropic valuation reports were read as further support for sentiment across AI-linked names. Bitcoin, by contrast, barely moved: it sat near $73,000 over the past 24 hours, having tested its 200-day moving average around $73,116 and remaining below $74,000. Gold held near $4,000 per ounce. The macro overlay added caution rather than support. October consumer price inflation, released on Tuesday, rose 0.4% month over month and came in above expectations, the dollar index held above 102, and market pricing assigned roughly an 86% probability to a 0.25 percentage point rate increase at the Federal Open Market Committee meeting on December 9, with 14% on a half-point move.

The Rebound Meets Scored Resistance

At the pre-IPO instrument, the technical picture tempers Wednesday's enthusiasm. COINOTAG's composite scoring puts the strongest resistance for Anthropic at $1,425.03, scored 88 out of 100, with the heaviest support underneath at $1,249.29, scored 82 out of 100. The daily relative strength index sits at 31.9 and the MACD signal reads bearish, which keeps the daily trend reading in downtrend territory despite the 8% bounce. Perpetual open interest stands near $132 million with a funding rate of 0.0025% per interval, a flat carry that offers little directional conviction of its own. As the tape reads now, the instrument trades beneath a strong scored ceiling at $1,425.03, holds the $1,249.29 level as its scored floor, and the daily trend has yet to confirm a turn.